Clean Energy Savings Accounts

First, see if you’re already eligible to join Clean Energy Credit Union by being a part of our “field of membership,” which currently includes:

1. A member of one of the following organizations:  
   1. African-American Credit Union Coalition
   2. American Solar Energy Society
   3. Association of Energy Service Professionals
   4. Colorado Renewable Energy Society
   5. Denver Electric Vehicle Council
   6. Electric Auto Association
   7. Engineers for a Sustainable World
   8. EVHybridNoire
   9. Georgia Solar Energy Association
   10. Green America
   11. GreenHome Institute
   12. Illinois Solar Energy Association
   13. Midwest Renewable Energy Association
   14. Northeast Sustainable Energy Association
   15. Polar Bear Sustainable Energy Co-op
   16. RENEW Wisconsin
   17. Renewable Energy Owners Coalition of America
   18. Solar United Neighbors
   19. Texas Solar Energy Society
   20. Women of Renewable Industries and Sustainable Energy
       
2. An employee or volunteer of one of the following organizations:  
   1. Clean Energy Credit Union
   2. Our Climate
   3. 350 Colorado
      
3. A member of the immediate family or household of someone who is eligible via one of the above options or of someone who is already a member of Clean Energy Credit Union

If you’re not already eligible to join Clean Energy Credit Union, you can consider joining one of the above organizations. On your membership application, you can request that Clean Energy Credit Union sign you up for a membership with the Solar United Neighbors free of charge or request that Clean Energy Credit Union sign you up for a one-year membership with the- American Solar Energy Society and deduct the associated $10 membership fee from your opening account balance. Click here to learn more about the field of membership partner organizations listed above.

After confirming your eligibility, you would then open a “share account” (i.e. savings account) with a $5 minimum deposit which would serve as your ownership share in Clean Energy Credit Union. Once someone becomes a member of the Credit Union, they are a member for life. Click here to join Clean Energy Credit Union.

In case it helps, here’s some background on what a credit union “field of membership” is: although credit unions provide similar services as banks, they are different from banks in many ways. For example, a credit union is a not-for-profit, financial services cooperative that exists solely to serve its members and to fulfill its mission, whereas a bank exists to maximize financial returns for its stockholders. Another difference is that a bank can serve the general public whereas a credit union can only serve its “field of membership,” which is defined by regulators as the people and entities that are legally eligible to join the credit union. Ultimately, a credit union’s field of membership is comprised of one or more groups of people and entities that all have something in common that binds them together in some way. Many credit unions have a field of membership that includes people who work for a certain employer, or who live in a certain geographic area, or who are members of the same professional association or religious organization.

Because we are a federally chartered credit union, all deposits will be federally insured up to the allowable limits (e.g. up to $250k per person or per organization). This makes opening a deposit account or buying a “clean energy CD” far less risky than any other kind of investment in the clean energy sector. Furthermore, with low minimum investment thresholds, regular people—not just big financiers—will be able to leverage their dollars to support clean energy through safe, sound investments.

All deposits in Clean Energy Credit Union are insured by the National Credit Union Share Insurance Fund (NCUSIF). According to Wikipedia: “[The NCUSIF] is administered by the National Credit Union Administration (NCUA) for the purpose of providing deposit insurance to protect deposits of credit union members at insured institutions in the United States. It was created in 1970 shortly after the creation of the NCUA as an independent regulator of credit unions. The NCUSIF is funded completely by participating credit unions, and no taxpayer dollars have ever been used to bail out a credit union. The NCUSIF is backed by the full faith and credit of the United States government.”

An ACH transfer refers to any electronic movement of money between different financial institutions that goes through the Automated Clearing House (ACH) network, one of the biggest U.S. payment systems that has been around for almost 40 years. ACH transfers are commonly used for online bill pay, direct deposit, and transferring funds between financial institutions. For example, PayPal and Venmo, both use the ACH network. ACH transfers are more convenient and less expensive than wire transfers, which typically incur fees from both the sending and receiving financial institutions.

At Clean Energy Credit Union, ACH transfers are free for members. They are also typically free for at other financial institutions. However, it can take 1-3 days for transferred funds to be received and available for withdrawal.

Sometimes the size of an electronic transfer or mobile check deposit will exceed our standard limits. To request an increase to your transfer or deposit limits, contact us at info@cleanenergycu.org or 720.479.7900.